tradingwizzard

Trade nr. 24 Going SHORT GBPUSD here in 1.6105 sl 1.6225 tp 1.5777 flat with a c wave probably as an impulsive move to come

Trade nr. 23 Going LONG EURAUD here in 1.4495 sl 1.4330 tp 1.4996 running variation of a contracting triangle calling for higher values

Trade nr. 22 Going LONG USDCAD here in 1.0436 sl 1.03 tp 1.06 impulsive move underway, 1.06 major target to the upside, Canadian GDP expected to come on the softer side......

see, this is exactly why people fail when trading with Elliott, because they simply do not understand or do not apply correct the principle....I was expecting more from you, but since you said previously you're not really into it I will explain here, no problem....and I would appreciate to leave irony beside the fifth wave purple there fails to take the highs because it is the only scenario left when counting the 3rd wave green...if you would have put the fourth purple where 4 green is now and the fifth purple on the next higher swing, then it may look ok for the majority of people, but that structure is not impulsive...and it is MANDATORY for a third wave (in this case third wave green) to be impulsive....it is not impulsive because, like mentioned on the previous post, at least one wave needs to extend more that 161.8% out of the next longest wave....in this case the fifth purple would be bigger than the 1st purple, hence the 3rd purple should be bigger than 161.8% when compared with the fifth purple.....and it isn't, hence the correct count is the one presented as in this way all the rules are respected can we move to the actual wedge or still some unclarities? just ask TW

I edited the chart now with the right 4 purple for everybody to see TW

the 4th purple should be one swing higher....my mistake there, sorry. a third wave must be an impulsive wave ....always! in order for it to be impulsive, at least one wave needs to be extended = 161.8% out of the next longest wave..... to respect that, it means the fifth wave should be a failure (5<4) (purple) rule of equality states a fifth wave failure implies most of the times the length of the fifth wave should tend towards equality with the first wave (talking about the purple count here) Ok? TW

based on the 60 min chart you're posting there, I would say it's a SELL from an Elliott point of view (I trade mostly Elliott)........zigzag, abc, b wave a contracting triangle, c wave a clear impulse........at least 61.8% out of the whole move that started and the previous lows should come........let's see, keep this updated TW

shoot................. TW

Every trader knows what a wedge is and what it means: rising wedges are falling and falling wedges are rising. I agree, but to some extent though. Ending diagonals or terminal impulsed in the Elliott waves theory are patterns that form a wedge and a classical wedge is formed out of five different waves and there are some rules to be respected or that should be taken into consideration when looking at a wedge. Here they are: - wedges always travel between the 1-3 and 2-4 trendlines; - by the time the 2-4 trendline is broken, there is a strong tendency for it to be retested, but this is not mandatory; - most of the times price has the tendency to retrace 50% of the whole wedge pricewise, in less than the 50% of the time taken for the wedge to form; - wedges are NOT reversal patterns: there is a particular situation, called a running variation of a contracting triangle in which waveb>wave a and wave d>wave c and this is looking like a rising wedge. However, this one is not going to break to the downside (in the case of a rising wedge) or to the upside (in the case of a falling wedge), but virtually explode higher/lower, acting like a continuation pattern, with the thrust of the triangle being minimum 161.8% out of the longest wave (usually the b wave). Attached you have a possible rising wedge we have on the eurjpy currency pair now and looking to see if this one is breaking lower. Probably yes, in this case we're having a rising wedge in the form of a terminal impulsive move for the fifth wave to the upside.

eurusd not moving.......I knew I should have not taken that short...DISCIPLINE is missing completely

I personally do believe markets are not moving randomly otherwise consistant profits could not be made......even if only a pattern is becoming repetitive and the rest is random, still means the "randomness" label can't be applied there. TW

like said on the PM I sent you...IT IS NOT MANDATORY TO POST HERE...it is not a contest.....if you can't help yourself from posting a link, then so be it TW

great results, keep going......really interested to see!

hey het......you will be banned for posting links to your website.......period!...is that so hard to take? if yes, no problems regards, TW

no no.......only if I had the BILLIONAIRE indicator, maybe I would.....but I'm not that lucky it seems......come on man...grow up or show some results...... TW

I really love the Livermore story and the ones who are not recognizing that I would tell them they are lying to themselves.... no one is starting this business with a "billionaire" indicator on the pillow and the best part of the book and the part any trader should read tens of times is the psychological part.......there are some examples there and explained in plain English so that everyone understands that makes every trader remembering situations he/she met on the markets. like the one with the guy that had a tip to buy a stock and the guy that receives the tip just went over and sells 10,000 shares of the stock........the explanation.....to test the market....brilliant....... even with the times he went bankrupt....lot to learn......read Market Wizzards and see the vast majority of big shot traders of today were big time loosers at the begining..... well, no one can make a fortune compounding -15 pips/week.......15 pips....unbelievable......huh, oily boy? Regards, TW

so basicaly you're not compouning billionaires but losses......excellent strategy/indicator Regards

the other day early London news of possible default in China send the aud on its heels......and it was after strong CPI report in Australia.....why? 30% of Australian exports go to China so what is happening there is strongly influences the area now extrapolate to the world and see the impact TW

Trade nr. 21 SHORT EURUSD here in 1.3812 for 1.37 tp and SL 1.3877 I couldn''t help it......boy I can't hold myself:crap:

oh yes I am......3 screens, smartphone, whole house is wireless, when out I am on 3G.....but I guess this is the norm when you are trading currencies..... TW

HEY! In case you didn't watch my Live trading currency markets thread.......I AM A TRADER......taking a look at, sometimes, crap, people post here, is another thing........just saying.....3 positions, 3 in red........keep going and I will recognize your acomplishments.....if any TW

do you really make money with this one? as far as I can see........3 trades, 3 loosers............-13......keep trying, but the amount of pips you are going for is killing me.....2-4-10.........what?.....Billionaire?........I hope your're not selling this crap and, more important, I hope nobody is buying it........no offence.......but keep trying, I will watch closely TW

thank youk, I really appreciate it.......markets have been good lately TW

no no I see only -5 and -6 posted live.......the +13 is just you saying that....no offence so you're -11 now by the way, these are pips? what time frame is that? TW

ok ok....let's see the results......so far in negative, so I'll keep watching